Many poor countries have confirmed they cannot achieve a faster green transition without more financial support from nations that have grown rich thanks to fossil fuel industries. Climate funds are suffering from a lack of funding, including the Adaptation Fund, which will inevitably be affected by the suspension of US funding and spending cuts. A new negative outcome is expected from the results of the upcoming summit, as the funding issue remains the 'stumbling block' in negotiations, a recurring problem at every meeting and conference since the first Conference of Parties in Berlin in 1995.Mohamed El Sayyad*Starting today, November 10th, until November 20th, Brazil will host the 30th Conference of Parties to the United Nations Framework Convention on Climate Change (COP30).Dr...
Poor Countries Demand Financial Support for Green Transition at COP30
Brazil is preparing to host COP30, where poor countries will again raise the issue of funding shortages for climate initiatives. They argue that without help from rich nations that have profited from fossil fuels, a green transition will be impossible. The funding issue remains the main obstacle in negotiations.